SC: Copy of SC judgment approving multiple ‘initial AYs’ u/s. 80-IC for ‘substantial expansion’

SC (3 Judges bench) affirms Himachal Pradesh HC judgment allowing 100% deduction u/s. 80-IC to assessees upon undertaking substantial expansion, rules that the definition of ‘initial assessment year’ contained in

Feb 21,2019

SC: Counsel's outstation visit no ground to seek adjournment; Dismisses appeal for non-prosecution

SC dismisses appeal for non-prosecution; Appellant had sought adjournment on the basis that the learned counsel was out of station; Rejecting the prayer, SC remarks that, “This is no ground

Feb 18,2019

SC: Mandates assessee to comply with 'PAN-Aadhaar linking' requirement for return filing

SC mandates assessee to file return of income for AY 2019-20 after complying with Sec. 139AA requirement (i.e. PAN-Aadhaar linking), although, for AY 2018-19, the return had been filed as

Feb 07,2019

SC: Quashes HC-order holding single bogus donation cannot result in Trust-registration cancellation

SC sets aside HC order quashing CIT(E)'s order cancelling assessee-Trust's Sec. 12AA registration, directs CIT(E) to consider all the issues on its own merit, uninfluenced by the observations made by

Feb 04,2019

SC: Dismisses SLP against invalidating re-assessment based on VAT Department's hawala purchases details

SC dismisses Revenue's SLP challenging Gujarat HC order quashing re-assessment proceedings initiated beyond 4 years period, based on the information from VAT Department; AO had noticed that assessee was amongst

Jan 25,2019

SC: Dismisses SLP; HC held grant-in-aid to Govt. company, a capital receipt

SC dismisses the Revenue's SLP against HC order holding that receipt of grant-in-aid by the assessee (Government company) from Government for payment of staff salaries was capital receipt; During AY

Jan 18,2019

SC: Dismisses Revenue's SLP against Delhi HC allowing sec.80-IB(10) deduction to assessee

SC dismisses Revenue's SLP against Delhi HC in view of low tax effect; HC had allowed deduction u/s 80-IB (10) for assessee developing housing projects of IRWO & DDA on

Jan 04,2019

SC: Urges Govt. to relook at Sec. 80DD conditions regarding insurance payment for handicapped-dependents

SC urges Government to relook into the provision contained in Sec. 80DD of the Income-tax Act and explore the possibility of making suitable amendments taking into consideration various aspects/situations whereby

Jan 04,2019

SC: Dismisses SLP against re-assessment initiation based on special audit report

SC dismisses assessee-company's SLP challenging Bombay HC order upholding re-assessment initiation (beyond 4 yrs period) based on a special audit report; HC had held that the special audit report constituted

Dec 18,2018

SC: Dismisses SLP against penalty deletion for accepting/repaying loans through 'journal entries'

SC dismisses Revenue's SLP challenging Bombay HC order in case of assessee (belonging to Lodha group of companies engaged in real estate business) for AY 2009-10; HC had dismissed Revenue's

Dec 13,2018